Why Wal-Mart Stores Inc. Stock Popped Today
Shares of Wal-Mart Stores Inc. (NYSE: WMT) climbed 4.5% on Tuesday after the retail giant announced encouraging progress on its strategic initiatives, preliminary guidance for the coming fiscal year, and a big new share repurchase authorization.
More specifically, ahead of its annual investment community meeting today, Wal-Mart reiterated its guidance for fiscal 2018 GAAP earnings per share in the range of $4.18 to $4.28 and for adjusted (non-GAAP) earnings per share of $4.30 to $4.40. Wal-Mart also offered guidance for adjusted earnings per share in fiscal 2019 to climb roughly 5% year over year, equating to an approximate range of $4.52 to $4.62. In addition, Wal-Mart unveiled a new two-year, $20 billion share repurchase program to replace its existing authorization.
IMAGE SOURCE: WAL-MART.
Source: Fool.com
Walmart Inc. Stock
The stock is an absolute favorite of our community with 94 Buy predictions and no Sell predictions.
With a target price of 70 € there is a slightly positive potential of 9.38% for Walmart Inc. compared to the current price of 64.0 €.
